Netflix Strikes First Major Cannes Deal with Worldwide Acquisition of Animated Tearjerker ‘In Waves’
In its first massive play of the 2026 Cannes Film Festival, Netflix has secured the global rights (excluding France) to the highly buzzed-about animated feature In Waves. First reported by Variety, the streaming giant emerged victorious following a fierce, competitive worldwide bidding war among multiple distributors. Rumored to be in the mid-seven-figure range, the deal cements Netflix’s intention to remain a dominant force in prestige, filmmaker-driven international animation.
A Historic Festival Debut
Directed by Franco-Vietnamese filmmaker Phuong Mai Nguyen in her feature-length directorial debut, In Waves made history last week by becoming the first-ever animated film to open Cannes’ prestigious parallel section, Semaine de la Critique (Critics’ Week).
The film is an adaptation of AJ Dungo’s widely acclaimed 2019 graphic novel/memoir of the same name. Adapted for the screen by writers Fanny Burdino and Samuel Doux, the narrative chronicles a deeply moving, bittersweet romance set against the backdrop of Southern California skate and surf culture.
The story follows AJ, a reserved, artistic teenager who loves skateboarding, and Kristen, a vivacious girl who lives for the ocean and surfing. The two fall profoundly in love, but their future together is suddenly upended when Kristen is diagnosed with a severe, unexpected illness. Supported by their close-knit circle of friends and a shared passion for the sea, the couple embarks on a poignant and emotionally raw journey through first love, grief, and healing.
Star-Studded Voice Cast and Rave Reviews
The English-language voice cast is anchored by high-profile talent, with Academy Award nominee Stephanie Hsu (Everything Everywhere All at Once) and BAFTA winner Will Sharpe (The White Lotus, Amadeus) lending their voices to the lead roles.
Critics at Cannes have showered the film with rave reviews, propelling it to become one of the breakout hits of the festival. Reviewers have praised Nguyen’s “elegantly animated” style, which respects the visual simplicity and emotional depth of Dungo’s original graphic work while seamlessly shifting form—transforming waves into bedsheets and hospital beds into fantastical settings. Early reviews have drawing comparisons to classic coming-of-age tearjerkers like The Fault in Our Stars, with Variety describing it as an emotional powerhouse that “hits all the right notes.”
A Multi-Studio Collaboration
The project is a French and Belgian co-production, brought to life by Silex Films (led by producers Priscilla Bertin and Judith Nora) in collaboration with Anonymous Content. Executive producing alongside Nguyen are David Levine, Nick Shumaker, Yohann Comte, Carole Baraton, Pierre Mazars, as well as the lead stars, Sharpe and Hsu. International sales were handled by Charades, while CAA Media Finance and Anonymous Content negotiated the deal with Netflix on behalf of the filmmakers.
In a joint statement, Anonymous Content’s David Levine and Nick Shumaker expressed their excitement: “From the very start, we were energized by Mai’s unmistakable talent and the ability of AJ’s story to deeply move audiences. This exciting partnership with Netflix will ensure that our romantic, coming-of-age story reaches people all over the world.” Silex Films’ Priscilla Bertin echoed the sentiment, adding that Netflix’s enthusiasm will give the movie “the opportunity to reach the broadest possible audience.”
Netflix’s Continued Animation Domination
The acquisition of In Waves further establishes Netflix as a major patron of artistic, festival-circuit animation. While the streaming service famously sits out of Cannes’ main competition lineup due to France’s strict theatrical window regulations, it remains an aggressive buyer in the festival’s Marché du Film.
Having enjoyed massive historical success in the medium—including last year’s record-breaking release of KPop Demon Hunters, which became its most-watched original movie and secured two Academy Awards—Netflix is setting up a formidable slate. In Waves (which is also slated to compete at the upcoming Annecy International Animation Film Festival this summer) joins an upcoming Netflix animation lineup that includes highly anticipated titles like Brad Bird’s Ray Gunn and Skydance’s Steps.
With its glowing Cannes pedigree and intense emotional core, industry insiders are already noting that Netflix likely has another major Best Animated Feature Oscar contender on its hands.
